- Image: asean.org
BEIJING: Legal professionals from China and members of the Association of Southeast Asian Nations will strengthen cooperation in terms of business, especially in emerging fields, to promote the sustainable vitality of the regional economy by rule of law.
The cooperation agreement has been enshrined in an initiative that was launched at the Sixth China-Asean Legal Cooperation Forum in Chongqing on Tuesday (Nov 12).
The initiative emphasises the integration of the rule of law and business, encouraging enterprises, commercial chambers, law firms and arbitration institutions from China and Asean members to increase exchanges on cross-border investment, trade dispute resolution and intellectual property protection to provide strong legal guarantees for regional economic cooperation.
It also calls for establishing a regional information sharing platform to regularly issue assessment reports on the rule of law environment and judicial guidelines on trade cooperation, so that investors in the region can access legal services more easily and comprehensively.
Noting the rule of law is an indispensable part of international cooperation, Wang Hongxiang, an official from the China Law Society, suggested Chinese and Asean legal specialists give full play to the important role of the rule of law in maintaining regional peace and advancing its growth.
"Legal professionals should follow the trend of technological innovation, with more legal cooperation in emerging fields such as the digital economy, e-commerce, artificial intelligence and big data," he said.
While using safe and reliable digital means to make cross-border trade more convenient, he added that the legal protection of IP rights also needs to be improved to foster the building of a sustainable and inclusive digital ecosystem in the region.
"The dynamic nature of trade and investment today requires us to rethink and upgrade our legal frameworks, particularly in areas where technological advancements are reshaping industries," said I Gusti Agung Sumanatha, a justice from Indonesia's Supreme Court.
In his view, e-commerce, fintech and digital services have surged in recent years, further accelerating the already rapid digital transformation in the region.
"For example, the booming digital trade between Asean countries and China has introduced a range of legal complexities, from issues of taxation and consumer protection to cybersecurity and data privacy," he said.
"To harness the full potential of these technologies, we need to build legal structures that facilitate rather than hinder innovation while ensuring that safeguards are in place to protect all stakeholders involved, particularly consumers," he added.
The justice also agreed that IP protection should be strengthened in the digital economy, saying "as Asean and China continue to innovate, the demand for stronger protection for patents, trademarks, copyrights and industrial designs will only increase."
Both experts pledged to build China-Asean trust and mutual understanding through legal dialogue, calling for greater efforts to cultivate judicial talent for the region.
Under the initiative, long-term cooperation on such cultivation must be established, and exchanges between students, teachers and scholars should be encouraged.
Additionally, activities such as lectures, workshops and mock trials need to be held to help the region enhance cultural exchanges on the rule of law, the initiative said. - China Daily/ANN
